Life Insurance in Slovenia, Key Trends and Opportunities to 2020

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Published: August 29, 2017 Report Code: GD-IS1559MR-ST

Report Overview
Key Players
Table of Contents
Table
Figures

GlobalData’s 'Life Insurance in Slovenia, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Slovenian life insurance segment, and a comparison of the Slovenian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Slovenian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the life insurance segment in Slovenia:

• It provides historical values for the Slovenian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key categories in the Slovenian life insurance segment, and market forecasts to 2020.

• It provides a comparison of the Slovenian life insurance segment with its regional counterparts

• It analyzes the various distribution channels for life insurance products in Slovenia.

• It profiles the top life insurance companies in Slovenia and outlines the key regulations affecting them.

Key Highlights

• Slovenia’s life segment is highly concentrated, with the 10 leading insurers accounting for 99.4% of the segment’s gross written premium in 2015.

• The implementation of Solvency II in 2016 is likely to lead to further consolidation in the segment.

• The Slovenian life insurance penetration decreased from 1.62% in 2011 to 1.47% in 2015.

• The life segment’s distribution network was led by agencies in 2015, followed by bancassurance and brokers.

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Slovenian life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Slovenian life insurance segment.

• Assess the competitive dynamics in the life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Slovenian insurance industry, and their impact on companies and the industry's future.

Zavarovalnica Triglav
Zavarovalnica Maribor
NLB Vita
Adriatic Slovenica
Merkur zavarovalnica
Prva osebna zavarovalnica
Generali zavarovalnica
Modra zavarovalnica
Grawe zavarovalnica
Zavarovalnica Tilia

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Policies sold

4.2.3 Claims

4.2.4 Assets and investments

5 Outlook by Sub-Segment

5.1 Individual Life Insurance

5.1.1 Premium

5.1.2 Policies sold

6 Distribution Channel Outlook

6.1 Analysis by Distribution Channel

7 Competitive Landscape

7.1 Overview

7.2 Company Profiles

7.2.1 Zavarovalnica Triglav DD – company overview

7.2.2 Zavarovalnica Maribor DD – company overview

7.2.3 NLB Vita DD – company overview

7.2.4 Adriatic Slovenica – company overview

7.2.5 Merkur Zvarovalnica – company overview

8 Governance, Risk and Compliance

8.1 Legislation Overview and Historical Evolution

8.2 Latest Changes in Regulation

8.3 Legislation and Market Practice by Type of Insurance

8.3.1 Life insurance

8.3.2 Property insurance

8.3.3 Motor insurance

8.3.4 Liability insurance

8.3.5 Marine, aviation and transit insurance

8.3.6 Personal accident and health insurance

8.4 Compulsory Insurance

8.4.1 Health insurance

8.4.2 Motor third-party liability insurance

8.4.3 Marine third-party liability insurance

8.4.4 Professional indemnity insurance for alternative investment fund managers

8.4.5 Professional indemnity insurance for insurance brokers

8.4.6 Air carriers and aircraft operators insurance

8.4.7 Liability for ships with respect to oil pollution

8.5 Supervision and Control

8.5.1 International Association of Insurance Supervisors

8.5.2 European Insurance and Occupational Pensions Authority

8.5.3 Federation of European Risk Management Associations

8.5.4 Insurance Supervision Agency

8.5.5 Slovenian Insurance Association

8.6 Non-Admitted Insurance Regulations

8.6.1 Overview

8.6.2 Intermediaries

8.6.3 Market practices

8.6.4 Fines and Penalties

8.7 Company Registration and Operations

8.7.1 Type of insurance organization

8.7.2 Establishing a local company

8.7.3 Foreign ownership

8.7.4 Types of license

8.7.5 Capital requirements

8.7.6 Solvency margin

8.7.7 Reserve requirements

8.7.8 Investment regulations

8.7.9 Statutory return requirements

8.7.10 Fee structure

8.8 Taxation

8.8.1 Insurance premium or policy taxation

8.8.2 Withholding taxes on premium paid overseas

8.8.3 Corporate tax

8.8.4 VAT

8.8.5 Captives

8.9 Legal System

8.9.1 Introduction

8.9.2 Access to court

8.9.3 Alternative dispute resolution

9 Databook

9.1 Policies and Premium

9.2 Claims and Expenses

9.3 Assets and Investments

9.4 Direct Marketing

9.5 Insurance Brokers and Agencies

9.6 Bancassurance and Other Distribution Channels

9.7 Individual Life Insurance

9.8 Individual Life Insurance by Product

9.9 Linked vs Non-Linked Policies

10 Definitions and Methodology

10.1 Definitions

10.2 Methodology

11 About GlobalData

11.1 Contact GlobalData

11.2 About GlobalData

11.3 GlobalData’s Services

11.4 Disclaimer

Table

Table 1: Slovenian Life Insurance – Key Facts, 2015

Table 2: Slovenian Life Insurance – Segment Shares (%) of the Top Insurers, 2015

Table 3: Slovenian Government Credit Ratings

Table 4: Slovenian Life Insurance – Gross Written Premium (EUR Million and US$ Million), 2011–2015

Table 5: Slovenian Life Insurance – Penetration (%), 2011–2015

Table 6: Slovenian Life Insurance – Gross Written Premium (EUR Million and US$ Million), 2015–2020

Table 7: Slovenian Life Insurance – Penetration (%), 2015–2020

Table 8: Slovenian Life Insurance – New Business Direct Written Premium (EUR Million and US$ Million), 2011–2015

Table 9: Slovenian Life Insurance – New Business Direct Written Premium (EUR Million and US$ Million), 2015–2020

Table 10: Slovenian Life Insurance – Premium per Capita (EUR and US$), 2011–2015

Table 11: Slovenian Life Insurance – Premium per Capita (EUR and US$), 2015–2020

Table 12: Slovenian Life Insurance – Number of Policies Sold (Million), 2011–2015

Table 13: Slovenian Life Insurance – Number of Policies Sold (Million), 2015–2020

Table 14: Slovenian Life Insurance – Paid Claims (EUR Million and US$ Million), 2011–2015

Table 15: Slovenian Life Insurance – Paid Claims (EUR Million and US$ Million), 2015–2020

Table 16: Slovenian Life Insurance – Total Assets (EUR Billion and US$ Billion), 2011–2015

Table 17: Slovenian Life Insurance – Total Assets (EUR Billion and US$ Billion), 2015–2020

Table 18: Slovenian Life Insurance – Total Investment Income (EUR Million and US$ Million), 2011–2015

Table 19: Slovenian Life Insurance – Total Investment Income (EUR Million and US$ Million), 2015–2020

Table 20: Slovenian Life Insurance – Investment Portfolio (EUR Billion), 2011–2015

Table 21: Slovenian Life Insurance – Investment Portfolio (EUR Billion), 2015–2020

Table 22: Slovenian Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2011–2015

Table 23: Slovenian Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2015–2020

Table 24: Slovenian Individual Life Insurance – Number of Policies Sold by Category (Thousand), 2011–2015

Table 25: Slovenian Individual Life Insurance – Number of Policies Sold by Category (Thousand), 2015–2020

Table 26: Slovenian Life Insurance – New Business Direct Written Premium by Distribution Channel (EUR Million), 2011–2015

Table 27: Slovenian Life Insurance – New Business Direct Written Premium by Distribution Channel (EUR Million), 2015–2020

Table 28: Slovenian Life Insurance – Percentage of New Business Direct Written Premium, by Distribution Channel, 2011–2020

Table 29: Slovenian Life Segment – Market Shares of Leading Insurers (%), 2015

Table 30: Zavarovalnica Triglav DD – Key Facts

Table 31: Zavarovalnica Triglav DD – Key Financials (EUR Million), 2011–2015

Table 32: Zavarovalnica Maribor DD – Key Facts

Table 33: Zavarovalnica Maribor DD – Key Financials (EUR Million), 2011–2015

Table 34: NLB Vita DD – Key Facts

Table 35: NLB Vita DD – Key Financials (EUR Million), 2013–2015

Table 36: Adriatic Slovenica – Key Facts

Table 37: Adriatic Slovenica – Key Financials (EUR Million), 2011–2015

Table 38: Merkur Zavarovalnica – Key Facts

Table 39: Merkur Zavarovalnica – Key Financials (EUR Million), 2011–2015

Table 40: Slovenia – Insurance Regulatory Framework Key Features

Table 41: Slovenia – Life Insurance Regulatory Framework

Table 42: Slovenia – Property Insurance Regulatory Framework

Table 43: Slovenia – Motor Insurance Regulatory Framework

Table 44: Slovenia – Liability Insurance Regulatory Framework

Table 45:Slovenia – Liability Limits for Third-Party Death and Physical Injury

Table 46: Slovenia – Liability Limits for Other Claims

Table 47: Slovenia – Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft

Table 48: Slovenia – Corporate Tax Rates for the Financial Year 2017

Table 49: Slovenian Life Insurance – Policies and Premium, 2011–2015

Table 50: Slovenian Life Insurance – Policies and Premium, 2015–2020

Table 51: Slovenian Life Insurance – Claims and Expenses, 2011–2015

Table 52: Slovenian Life Insurance – Claims and Expenses, 2015–2020

Table 53: Slovenian Life Insurance – Assets and Investments, 2011–2015

Table 54: Slovenian Life Insurance – Assets and Investments, 2015–2020

Table 55: Slovenian Life Insurance – Direct Marketing, 2011–2015

Table 56: Slovenian Life Insurance – Direct Marketing, 2015–2020

Table 57: Slovenian Life Insurance – Insurance Brokers and Agencies, 2011–2015

Table 58: Slovenian Life Insurance – Insurance Brokers and Agencies, 2015–2020

Table 59: Slovenian Life Insurance – Insurance Brokers and Agencies, 2011–2015

Table 60: Slovenian Life Insurance – Insurance Brokers and Agencies, 2015–2020

Table 61: Slovenian Life Insurance – Individual Life Insurance, 2011–2015

Table 62: Slovenian Life Insurance – Individual Life Insurance, 2015–2020

Table 63: Slovenian Life Insurance – Individual Life Insurance by Product, 2011–2015

Table 64: Slovenian Life Insurance – Individual Life Insurance by Product, 2015–2020

Table 65: Slovenian Life Insurance – Linked vs Non-Linked Policies, 2011–2015

Table 66: Slovenian Life Insurance – Linked vs Non-Linked Policies, 2015–2020

Table 67: Insurance Industry Definitions

Figures

Figure 1: Slovenian Real GDP (EUR Billion), 2011–2020

Figure 2: Slovenian Consumer Price Inflation (%), 2011–2020

Figure 3: Slovenian Current Account Balance as Percentage of GDP (%), 2011–2020

Figure 4: Slovenian Unemployment Rate, 2011–2020

Figure 5: Slovenian Population by Age Group, 1990–2025

Figure 6: Slovenian Life Insurance Penetration – Regional Comparison (%), 2015

Figure 7: Slovenian Insurance Direct Written Premium Shares by Segment – Regional Comparison (%), 2015

Figure 8: Slovenian Life Insurance – Gross Written Premium (EUR Million), 2011–2020

Figure 9: Slovenian Life Insurance – Penetration (%), 2011–2020

Figure 10: Slovenian Life Insurance – New Business Direct Written Premium (EUR Million), 2011–2020

Figure 11: Slovenian Life Insurance – Premium per Capita (EUR), 2011–2020

Figure 12: Slovenian Life Insurance – Number of Policies Sold (Million), 2011–2020

Figure 13: Slovenian Life Insurance – Paid Claims (EUR Million), 2011–2020

Figure 14: Slovenian Life Insurance – Total Assets (EUR Billion), 2011–2020

Figure 15: Slovenian Life Insurance – Total Investment Income (EUR Million), 2011–2020

Figure 16: Slovenian Life Insurance – Investment Portfolio (EUR Billion), 2011–2020

Figure 17: Slovenian Life Insurance – Investment Portfolio Dynamics by Category, 2011–2020

Figure 18: Slovenian Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2011–2020

Figure 19: Slovenian Individual Life Insurance – Gross Written Premium Share by Category, 2011–2020

Figure 20: Slovenian Individual Life Insurance – Gross Written Premium Dynamics by Category, 2011–2020

Figure 21: Slovenian Individual Life Insurance – Number of Policies Sold by Category (Thousand), 2011–2020

Figure 22: Slovenian Life Insurance – New Business Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020

Figure 23: Slovenian Life Segment – Market Shares of Leading Insurers (%), 2015

Figure 24: Slovenia – The Three Pillars of Solvency II

Figure 25: Slovenia – Insurance Supervision and Control at Various Levels

Figure 26: Slovenia – Insurance Regulatory Frameworks for Company Registration and Operation

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